Technical Analysis

The USDCHF is on a 5 day up streak, started last Friday. Today, the verdict is still out. The pair closed at 0.98147. The current price is below that at 0.9812 currently. The streak higher is in jeopardy. The move to the downside was started with the high stalling near the high from yesterday at

The GBPUSD has also been dragged lower on the back of the Russian pipeline news and in the process has moved down to test the low from yesterday at 1.14977. The low price just reached 1.14992 and stalled. For the trading week, the GBPUSD price has closed lower each day. The price is down for

The major US indices are all closing lower. The NASDAQ is down for the 6th’s consecutive day. The index is down -7.98% from the closing level on August 25 The S&P and Dow industrial average fell 5 the last 6 trading days Energy led the S&P 500. Communication services was the big loser S&P 500

The USDCAD has moved below the 100 hour MA at 1.30971 and below an upward sloping trendline on the hourly chart as well. The pair is testing a swing area between 1.3077 and 1.3092. That swing area goes back as far as to May 12 (not shown). There are a number of swing highs and

The Dow and the S&P snapped a 4 day losing streak with late day buying ahead of the jobs report tomorrow . The Nasdaq index was still down on the day and closed lower for the 5th consecutive. The good news is the market opened lower, the prices moved even lower before rotating higher and

The USDCAD moved to a high of 1.3207 today and in the process got within 15 pips of the 2022 high from July at 1.3222. Close but sellers leaned. The price has rotated back down. That move lower has now seen the price move back to an old trend line at 1.3160 area. That trend

The US stocks opened higher, traded negative, recovered back into positive terrritory and is now back in the red. The declines are led by the Dow 30 with Salesforce, Caterpillar and Chevron moving lower the worst performers Crowdstrike which reported better than expected results after the close last night are nevertheless down -5.26% highlighting the

The USDCHF has seen sellers enter as London/European traders look to exit for the day and put the end to the month of August. The declines coms after a move up of about 230 pips from the low from Friday. The pair is trading back towar the close from yesterday at 0.9743. The current price

> Technical Analysis > What are the technicals that are driving the FX markets heading into the new trading day? Technical Analysis A technical look at the major currencies vs the USD for the Asia Pacific traders The EURUSD is trading above its 100/200 hour moving averages which is bullish, but remains below its 38.2%

The EURUSD moved above its 200 hour moving average earlier in the European session. Recall from yesterday, the price tried to crack above that moving average line but could not sustain momentum. The European run-up took the price up near 1.0051 before rotating back to the downside. Focus returned to a higher dollar after better

The NZDUSD held resistance last week against the 200 hour MA. On Thursday, the run higher stalled ahead of the level. On Friday, the price moved right up to the level and backed off (after the core PCE data). On Friday, the selling was strong with the pair closing at the session lows. Today, the

The Nasdaq index has a high today of 12124.87. That did take the price back above the the indices 100 day at 12109.50, but not for the long. The price has rotated back to the downside reaching a new intraday lows at 11981.42. The current price is at 11997, down -144 points or -1.19%. Technically,

The USDCHF is moving to a new session low and at the lowest level since Monday. The 200 hour moving average is being approach at 0.95907. That moving average is near a low swing area between 0.9591 and 0.96046 (see renumbered circles). A move below that level would have traders targeting the 38.2% retracement of

Crypto shorts should probably cover here, as ETHUSD is at $1500, and possibly enter again if price closes a 4hr or daily candle below the presented channel, and previously broken bull flag, now being retested for the 2nd time. Traders that are trading Ethereum or any other crypto, should be very minded to what the

The USDCAD has seen a run higher along with the general dollar buying trend today afterFed Chair Powell’ Jackson Hole speech. The pair – after dipping toward the low from yesterday, and the 50% of the recent trading range after the better than expected core PCE data – saw sellers turn to buyers as the

The NZDUSD – like other pairs – saw dollar selling after the core PCE data – take the pair move up to test the 200 hour MA. Sellers leaned keeping the pair steady. Chair Powell came along and the comments caught hawks attention today. The price moved below the 100 hour MA (blue line at

The EURUSD is lower, but is still above the low for the day and the 100 hour MA. The current price is at 0.9977. The low for the day reached 0.99459. That took the price briefly below the 0.99515 level which was the low from July 14 low. The July 14 low stalled the fall

The major US indices are lower and that move has now pushed the tech heavy NASDAQ index back below its 200 hour moving average of 12425.85. The low rached 12374.13. The current price is at 12399.22. Stay below would tilt the bias more to the downside. The low for the week reached 12350.16. The 38.2%